Posted on 02/13/2020 2:34:36 PM PST by BenLurkin
California High-Speed Rail Authority on Wednesday bumped its overall cost estimate for completing the rail line between San Francisco and Los Angeles to $80.3 billion, blaming inflationary increases and better cost projections...
After years of embarrassing cost overruns and delays, managers of California’s ambitious bullet-train project insisted that they are on pace to meet a preliminary 2022 federal deadline for laying track along the first segment in the Central Valley.
But that will use up virtually all the money the project has available.
The authority’s latest business plan comes amid unrelenting pressure from state lawmakers, some of whom want to peel off more of the money to help commuters in the city’s population centers. The 168-page report attempts to counter those critics by emphasizing the $3 billion already going to so-called “bookend” projects in the Los Angeles and San Francisco Bay areas.
It also tries to make the case that building first in the Central Valley remains more efficient than the alternatives.
...
The cost increase is mainly because the plan pushes back the completion of a high-speed rail link between Silicon Valley and the Central Valley by 18 months, to late 2031.
The increase in the projected baseline cost is smaller than previous jumps, with Kelly calling it ”virtually unchanged” and within the ranges of recent previous estimates. The 2016 business plan estimated the project would cost $64 billion. The authority raised that to $77 billion in the 2018 business plan and added $2 billion to the estimate just last year.
The new plan continues to project that the entire San Francisco to Los Angeles route will be running by 2033 — a quarter-century after California voters first approved it — “assuming funding is available when needed.”
(Excerpt) Read more at sanfrancisco.cbslocal.com ...
So that’s why they are trying to overturn Prop 13!!!
They can pry my gun
from my cold dead hands
after I’ve emptied all 50 clips!
a monument to corruption or just another eventual pile of rubble .. California, where human excrement masquerades as state leadership.
Wrong thread.
This is surprising. This is the first government funded construction project that I can remember going over-budget.
I thought Newsome killed this turkey. And Trump also pulled all Federal funds for it. Why this silly study?
California: Where it cost even more than before to get nowhere
Those pockets aren’t going to line themselves, ya know!
Wow, never seen a state go into bankruptcy at 240+ mph before.
Exactly.
What’s another $1 billion? It’s a rounding error at this point in CA bankruptcy pursuit.
“assuming funding is available when needed.”
By 2031, the technology will be obsolete. Nice work, California. Wasting the world's resources for what? To save the planet? What problem are they solving? Has anyone asked that?
I wonder what the cost will be once they find out that China is no longer exporting steel, electronics, or anything else.
the people in the state of california in there infinite wisdom, keep voting in more taxes, recently the increases in gas taxes.
Now we have the chance to greatly increase property taxes on commercial properties. Wanna bet on the outcome?
We have enough money to provide illegals full benefits and build this train. When they run out, I’m sure WE’LL vote for more taxes
How many miles of rail have been laid so far?..................
Has it made it from Fresno to Fowler yet?
Jerry Brown’s Last Erection...
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